Teck Resources (NYSE:TECK) (TSE:TECK) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Monday, The Fly reports.

TECK has been the topic of several other reports. B. Riley reissued a “buy” rating on shares of Teck Resources in a research note on Wednesday, November 1st. ValuEngine raised shares of Teck Resources from a “hold” rating to a “buy” rating in a research note on Friday. Raymond James Financial reissued an “outperform” rating on shares of Teck Resources in a research note on Tuesday, August 15th. Deutsche Bank reissued a “buy” rating and set a $26.00 target price (up from $24.00) on shares of Teck Resources in a research note on Monday, September 25th. Finally, MKM Partners reissued a “buy” rating and set a $30.00 target price on shares of Teck Resources in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $30.65.

Shares of Teck Resources (TECK) opened at $23.31 on Monday. Teck Resources has a 52-week low of $14.56 and a 52-week high of $33.76. The company has a market capitalization of $13,298.35, a price-to-earnings ratio of 6.33, a PEG ratio of 0.85 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 2.17.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Nova Scotia acquired a new position in shares of Teck Resources in the second quarter worth $27,111,000. American Century Companies Inc. acquired a new position in shares of Teck Resources in the second quarter worth $6,823,000. The Manufacturers Life Insurance Company acquired a new position in shares of Teck Resources in the second quarter worth $73,078,000. Shell Asset Management Co. increased its stake in shares of Teck Resources by 175.3% in the third quarter. Shell Asset Management Co. now owns 152,720 shares of the basic materials company’s stock worth $3,239,000 after acquiring an additional 97,242 shares during the last quarter. Finally, Prudential PLC acquired a new position in shares of Teck Resources in the second quarter worth $4,909,000. 54.26% of the stock is currently owned by institutional investors and hedge funds.

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About Teck Resources

Teck Resources Ltd is engaged in the business of exploring for, acquiring, developing and producing natural resources. The Company’s activities are organized into business units that are focused on steelmaking coal, copper, zinc and energy. It operates in five segments: steelmaking coal, copper, zinc, energy and corporate.

The Fly

Analyst Recommendations for Teck Resources (NYSE:TECK)

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